XML 22 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
BASIC AND DILUTED NET LOSS PER COMMON SHARE
12 Months Ended
Apr. 30, 2016
Earnings Per Share [Abstract]  
BASIC AND DILUTED NET LOSS PER COMMON SHARE
NOTE 4 – BASIC AND DILUTED NET LOSS PER COMMON SHARE
 
Basic and diluted net loss per common share from continuing operations is computed as net loss from continuing operations less noncontrolling interest and dividends on preferred stock, divided by the weighted average number of common shares outstanding for the period. Diluted net loss per common share reflects the potential dilution that could occur from common stock issuable through exercise of stock options, warrants and Note conversions.
 
The table below presents the computations of loss per share from continuing operations applicable to common stockholders, after consideration of noncontrolling interest and dividends declared on preferred stock, as follows:
 
 
 
For the years ended
 
 
 
April 30,
 
 
 
2016
 
2015
 
Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss from continuing operations attributable to WPCS common shareholders
 
$
(9,118,522)
 
$
(9,506,300)
 
Income (loss) from discontinued operations, basic and diluted
 
 
848,476
 
 
(1,822,239)
 
Net loss attributable to WPCS common shareholders, basic and diluted
 
$
(8,270,046)
 
$
(11,328,539)
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic and diluted weighted average shares outstanding
 
 
2,290,050
 
 
672,723
 
 
 
 
 
 
 
 
 
Basic and diluted loss from continuing operations per common share
 
$
(3.98)
 
$
(14.13)
 
Basic and diluted income (loss) from discontinued operations per common share
 
 
0.37
 
 
(2.71)
 
Basic and diluted loss per common share
 
$
(3.61)
 
$
(16.84)
 
 
The following were excluded from the computation of diluted shares outstanding due to the losses for the years ended April 30, 2016 and 2015, as they would have had an anti-dilutive impact on the Company’s net loss (all amounts are rounded to 000).
 
 
 
As of April 30,
 
 
 
2016
 
2015
 
Common stock equivalents:
 
 
 
 
 
 
 
Common stock options
 
 
3,290,000
 
 
41,000
 
Series F and F-1 preferred stock
 
 
-
 
 
496,000
 
Series G and G-1 preferred stock
 
 
-
 
 
291,000
 
Series H and H-1 preferred stock
 
 
1,076,000
 
 
-
 
Make-whole on preferred shares
 
 
-
 
 
204,000
 
Common stock purchase warrants
 
 
1,295,000
 
 
16,000
 
Totals
 
 
5,661,000
 
 
1,048,000